For nearly thirty years, the flickering orange-on-black screens of the Bloomberg terminal have been omnipresent on trading floors and executive suite desks, maintaining a vital lifeline of data and communication. But now cost-effective competitors like Alpha Terminal have trimmed the data terminal fat, focusing instead on what investors and traders value the most.

As central banks move away from ultra-loose monetary policy, and the global economic expansion matures, bond fund managers will need to ensure their portfolios draw on a truly diverse range of sources of return and carefully consider portfolio risk if they are to generate yield in the current market environment.

"My initial meetings with the Parliamentary and Health Service Ombudsman (PHSO) indicated they too had serious concerns over HMRC's handling of these cases."

She says in recent years there has been growth in cases where HMRC's decision-making has had an adverse impact on vulnerable groups of people, for example pensioners facing unexpected tax bills.

The report says HMRC was ordered to pay over £100,000 in compensation to people who were judged to have been treated unfairly in the tax year 2009/2010.

Procedures to improve taxpayers' experiences, however, have been put in place. The report says the Adjudicator's Office has worked with HMRC to develop workshops for complaint handlers "emphasising the need to provide clear, evidence based explanations and reasons for their decisions".

Additionally, an "audit template" to help complaint handlers follow guidelines has now been made a mandatory part of reviewing cases.